Markets
Warren Buffett Seeks Feds Approval to Increase Stake in Wells Fargo
Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B), the multinational conglomerate controlled by billionaire Warren Buffett, is seeking the approval of the Federal Reserve to increase its stake in Wells Fargo & Co. (NYSE:WFC).
Buffett’s conglomerate submitted a systems...
Markets
BMW Partners with Intel, Mobileye to Produce Self-Driving Cars by 2023
Bayerische Motoren Werke AG (ETR:BMW) partnered with Intel Corporation (NASDAQ:INTC) and Mobileye NV (NYSE:MBLY) to develop solutions that would allow the production of self-driving cars by 2023.
The partnership combines the companies' expertises in automotive,...
Markets
Hershey Shares Soar on Report of Takeover Bid by Mondelez
The shares of Hershey Co (NYSE:HSY) are trading higher today following reports that Mondelez International (NASDAQLMDLZ) made a takeover bid.
Hershey’s stock price climbed more than 15% to $11.86 per share. Mondelez also gained more...
Markets
Walmart Offers Free 30-Day Trial of ShippingPass, Directly Competes with Amazon Prime
Wal-Mart Stores, Inc. (NYSE:WMT) is offering a free 30-day trial of ShippingPass, a new shipping program for consumers in the United States. It is expected to compete directly with the Prime subscription service of...
Markets
Volkswagen Settles Emissions Tests Cheating Allegations for $14.7 Billion
Volkswagen AG (ETR:VOW) agreed to spend $14.7 billion to settle the charges filed against it in connection with allegations of cheating emissions tests and deceiving customers on 2.0 liter diesel vehicles.
The German automaker settled...
Markets
Brexit: US Urges EU and UK to Manage Separation Responsibly
Following the Brexit vote last week, U.S. senior officials encourage the leadership of the United Kingdom and the European Union (EU) to manage their impending separation responsibly to minimize disruption in the marketplace.
Britain voted...
Markets
Global Stock Markets Plummet after Brexit Vote
The global stock markets plummeted following the result of the Brexit referendum. The British people voted for the United Kingdom to leave the European Union (EU), which prompted the resignation of Prime Minister David...
Markets
Merrill Lynch to Pay $415 Million to Settle Charges for Misusing Customer Cash
Merrill Lynch agreed to settle the charges filed by the Securities and Exchange Commission (SEC) by paying $415 million and admitting wrongdoing for misusing customer cash to generate profits.
The firm also acknowledged its failure...
